My EG Services Berhad Annual Report 2020

MY E.G. SERVICES BERHAD Regisration No. 200001003034 (505639-K) 96 A. BOARD LEADERSHIP AND EFFECTIVENESS (CONT’D) I. Board Responsibilities (cont’d) 1. Board of Directors (cont’d) The Board may form other committees delegated with specific authorities to act on its behalf when the needs arise. These committees will then operate under approved terms of reference or guidelines. Board meeting agenda comprises statutory matters, governance and management reports, which includes strategic risks, strategic projects and operational items. 5IF QSPàMF PG FBDI %JSFDUPS JT QSFTFOUFE PO QBHFT UP PG UIJT SFQPSU 2. Separation of Positions of Chairman and Group Managing Director The Board recognises the importance of having clear division of power and responsibilities between the roles of the Chairman of the Board and Group Managing Director to ensure that there is equilibrium of power and authority in managing and directing the Group. The role of the Chairman of the Board and the Group Managing Director are distinct and separate to engender accountability and facilitate a clear division of responsibilities to ensure there is a balance of power and authority in the Group. This segregation of roles also facilitates a healthy open exchange of views between the Board and Management in their deliberation of businesses, strategies and key activities of the Group. The Executive Chairman of the Board, Dato’ Dr Norraesah Binti Haji Mohamad, is primarily responsible for the effective and efficient conduct and working of the Board. She leads the Board with focus on governance and compliance and acts as a facilitator at Board meetings. The Chairman of the Board’s key responsibilities, BNPOHTU PUIFST JODMVEF z QSPWJEJOH MFBEFSTIJQ GPS UIF #PBSE TP UIBU UIF #PBSE DBO QFSGPSN JUT SFTQPOTJCJMJUJFT FGGFDUJWFMZ z setting the Board agenda and ensuring that Board members receive complete and accurate information in a UJNFMZ NBOOFS z MFBEJOH #PBSE NFFUJOHT BOE EJTDVTTJPOT z FODPVSBHJOH BDUJWF QBSUJDJQBUJPO BOE BMMPXJOH EJTTFOUJOH WJFXT UP CF GSFFMZ FYQSFTTFE z NBOBHJOH UIF JOUFSGBDF CFUXFFO #PBSE BOE NBOBHFNFOU z ensuring appropriate steps are taken to provide effective communication with stakeholders and that their WJFXT BSF DPNNVOJDBUFE UP UIF #PBSE BT B XIPMF BOE z leading the Board in establishing and monitoring good corporate governance practices in the Group. 5IF #PBSE EFMFHBUFT UIF (SPVQ .BOBHJOH %JSFDUPS 8POH 5IFBO 4PPO BOE UIF NBOBHFNFOU UP PWFSTFF UIF EBZ UP EBZ NBOBHFNFOU PG UIF (SPVQ T CVTJOFTT PQFSBUJPOT BOE JNQMFNFOUBUJPO PG QPMJDJFT BOE TUSBUFHJFT BEPQUFE by the Board to achieve the Group’s objective of creating long term value for its shareholders. 3. Supply of and Access to Information All Directors have full and unrestricted access to all information pertaining to the Group’s businesses and affairs in a timely manner which enables them to discharge their duties effectively. Procedures have been established for timely dissemination of Board and board committee papers to all Directors and members of the board committees in advance of the scheduled meetings. Notices of meetings are sent to each Director at least seven (7) days before the meeting date. Upon conclusion of the meeting, the Company Secretary will draft the minutes of meeting and circulate them in a timely manner. Generally, the Board papers circulated would include minutes of the previous meeting, quarterly and annual financial statements, corporate developments, minutes of board committees’ meetings, acquisition and disposal proposals, related party transactions and/or recurrent related party transactions, updates from Bursa Securities, list of directors’ circular resolutions passed and reports on the Directors dealings in securities, if any. In addition, the management is often invited to be present and provide detailed explanation on any agenda at Board meetings. CORPORATE GOVERNANCE STATEMENT (CONT’D)